Property overview

Unit 3 Hockley Court, 2401 Stratford Road, Hockley Heath, Solihull, B94 6NW

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Dec 2019

Acting on behalf of a local private family trust Franck-Steier Price Ltd (FSP) has acquired a courtyard office investment in Hockley Heath, close to Solihull and the M42 and M40 motorways.

The property comprised a two storey, self contained mid terrace open plan office. The unit had been refurbished as part of a lease renewal to the tenant International Cookware Ltd. The tenant had renewed for a 5 year term from September 2019. He initial rent is £18,000 per annum rising to £20,000 by year 5.

The unit extends in total to 1,310 sqft with 5 allocated car spaces on site.

The building was acquired for £255,000 reflecting an initial yield of 6.87% rising to 7.64% by Year 5.

Bromwich Hardy acted for the vendor.